State of Alaska Department of Revenue Buys 45,725 Shares of DNOW Inc. $DNOW

State of Alaska Department of Revenue grew its stake in shares of DNOW Inc. (NYSE:DNOW) by 76.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 105,747 shares of the oil and gas company’s stock after acquiring an additional 45,725 shares during the quarter. State of Alaska Department of Revenue’s holdings in DNOW were worth $1,400,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of DNOW. Boston Partners acquired a new position in shares of DNOW during the 3rd quarter worth $72,302,000. Wellington Management Group LLP raised its holdings in shares of DNOW by 260.2% during the 3rd quarter. Wellington Management Group LLP now owns 3,764,823 shares of the oil and gas company’s stock worth $57,414,000 after buying an additional 2,719,594 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of DNOW during the 3rd quarter worth $32,094,000. Balyasny Asset Management L.P. raised its holdings in shares of DNOW by 87.6% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,182,713 shares of the oil and gas company’s stock worth $18,036,000 after buying an additional 552,285 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of DNOW by 2,936.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 304,165 shares of the oil and gas company’s stock worth $4,511,000 after buying an additional 294,148 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analyst Ratings Changes

DNOW has been the subject of a number of research analyst reports. Zacks Research cut DNOW from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 24th. Weiss Ratings cut DNOW from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, February 27th. Wall Street Zen cut DNOW from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Stifel Nicolaus lowered their target price on DNOW from $18.00 to $16.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Two research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, DNOW presently has an average rating of “Hold” and a consensus target price of $17.00.

DNOW Trading Up 0.4%

Shares of DNOW stock opened at $12.00 on Tuesday. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -41.37 and a beta of 0.79. The stock has a 50-day moving average of $12.63 and a 200-day moving average of $13.62. The company has a current ratio of 2.34, a quick ratio of 1.11 and a debt-to-equity ratio of 0.18. DNOW Inc. has a 1-year low of $10.94 and a 1-year high of $17.26.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Friday, February 20th. The oil and gas company reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. The company had revenue of $959.00 million during the quarter, compared to analysts’ expectations of $969.50 million. DNOW had a positive return on equity of 7.26% and a negative net margin of 2.66%.The business’s quarterly revenue was up 68.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. On average, equities research analysts forecast that DNOW Inc. will post 0.66 earnings per share for the current year.

DNOW Company Profile

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.